Loading...
HomeMy WebLinkAbout1110 ~ ~ncome, proPi~s, ~swes and reve~~es or~ hereby mortqoqed os if spetificolly set fp~th ond destribed ~n the 9ronling ond hobendum ciavses hereof, ond such rKeive~ sholl hove oil the b~ood ond effec~ive functions and powe~s ~n any wise e~rrusted by o tourt to 0 ' reteive~, ond suth oppointment sholl be mode by ~~ch toutt os on admitted equily a~d o matter of absolute righf in the Mortgopee, ' ond without reference to the adeqvacy or incdequocr of the value of the property mortgoged, or ~o the solvency or insofvency of : the Mo~tgogor and/or fhe defendanl ond such ~ents, profifs, income, issues ond revenues shcll be opplied by the reteive? attordinp ~o the lien ond~o? equity of this mortgoge end ~he proctice of such cov?t, ond suth eppo~ntmenf of receive? s~=~~ be without notice i ro ony obli~or hereunder. i NINTH: The Mortgogor hereby woives al1 ~ighfs Of homesteod ond excmpfion gronted by the COnstifutiOn ond lows OF ! Flor~do. It is specifically ag?eed thot time is of the essence ~n this controct and Mot no woive~ by the Mor~gogee of eny obligotion hereunder or of the obligotion setured hereby sholl ot anr tirne ~hereafter be Aeld lo be o woiver of the ~erms hereof or of the q obligotion secured hereby. ~ • t . ~ TENTH: Upon a~y sole, tronsfe~ o? conveyonce of the property herein descnbed ond covered by this Mort9oge to ony 3 pe~son, firm w torporotion, whose credit-worthiness has not been opp~oved in writir~q by the holder of this Mort~ge, the Mortgoflee ~ or holder sholl Fave the right, ot its sole option, to occelerote the moturity of this Mwtgage as thaigh it wero due ond poyeble i on the doy of such tronsfer, if upon notice of soid tronsfer, the AAo.t~o9ee o. holder hos good reoso~ to believe thot the security of the Mortgagee or holder hos bee~~ hormed or ploced in jeopardy. The Bonk sholl receive a corr+plete current finorxiol stote- ment in o form ond presentotion sotisfoctory to the Bonk. ~ ~ REVENTH: If forecbsure p~oceedings of onr setond mortgoge or second tru:t deed or ony junior lien of ony kind should be institu?ed, the Mortgagee may, at its option immediofely or thereaher declore this mortgage ond the indebtedness secured hereby due ond payable. ~ TWafTH: That in the event the premises herebr mongoged, o~ ony port thereot, sholl be condemned and taken for public z vse under the power of emine~t domain, the Mortgagee shall have the right to demand thot oll domages oworded for the taking ~ of or domages to soid premises shall be paid to the MoH~agee, up to the amount then unpoid on this mortgage and the obligation % i sec~red hereby and may be applied upon the payments tast poyable under this mortgage and the obligoHon secured herebr. ~ I - I , THIRTEENTH: Thot insfollments, poyable under the terms hereof and the note secured hereby, no~ poid when due, shall be subject, ofter fifteen (15) days from the due dote thereof, to, ond it is agreed Mongagee shall collett thereon and fherewith, a "late chorge" in the amount of four per cent (4~) of fhe iintallment due upon eath suth d'elinquent instaliment, and suth "late ~ chorges" ore secured by the lien hereof. ~ FOURTEENTH: Without impoiring the obligations of Mortgagor contoioed in parogrophs SECOND, THIRD ond FOURTH ~ ~ hereof, and for appfication to the purposes thereof insofar as ihe same shal! be sulFicienf, Mortgogor shall, in oddition to the ~ monthly paymenh of principol and interest as stated in the originol note (ond i~ the note or notes secured hereby) provided to be F mode, poy a monthly sum and amount equal to one-twelhh (1!12) of the estimated anrwal taxes, assessments ond iruuronte premiums upon the real estate security, as the amount thereof is determined from time to time by the Mortgagee. FIFTEENTH: Thot the Mortgagor shall furnish annuallr, at the ~equest of the Mortgagee, finan:iol stafements in form and ce.tified in a manner sotisfadory to the Mortgegee. , SIXTEENTH: This mortgage also secures ony and all renewols ond eztensions of the promissory note refe~red to herein ond secured he?eby, and all instalfinents thereof, ond also ony other notes whicfi have been or moy be given to the Mortgagee by the Mortgogor, ond any other indcbtedness of fhe Mortgogor to the Mortgagee whith, however, sholl not exceed at ony one time a ' the oggregate unpaid principol sum of ~ `IIi0[1S1~iI~ID ~D I~A/ 100- _ Dollors f 5 20 ~ 000.00 1, ~t being the specific ~ntention that further advances may be mede by the Mortgagee at i~s opfion to the Mortgegor, either prior to or after the due dates of the above referred to promissory note hereby setured; and this mortgage is given for the spetific purpose of securing any ond all indebtedness br the Mortgagor to the Mortgagee in whatever manne? the some may be evi- denced or represented, until this mortgoge is satisfied of record; and all covenonts ond agreements conteined in ihis mortgoge shall be applicable to oll further and future advonces made by the MoA9ogee to fhe Mortgegor ond oll other indebtedness of - Mortgogor to thr Mortgagee, and any ond all renewols or extensions thereof. ' ~ ~ ~ ~ °sooK ~9 PacE1108 ~ -3- ~ ~ = ~ ~ _ _ ~ . . . .